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Fintech Salmon to apply for thrift bank license
The Philippine Star
|November 24, 2024
Rural Bank Sta. Rosa Laguna Inc. is looking to transition into a thrift bank as part of its growth strategy, with its parent company Salmon Group eyeing to start its application by end-2025.
Raffy Montemayor, Salmon co-founder and Rural Bank of Sta. Rosa Laguna chairman, has expressed readiness to meet the Bangko Sentral ng Pilipinas (BSP)'s stringent requirements.
"Right now, what we can see is that a thrift bank will make sense. But we need to make sure we're ready capital-wise and (meet) other prudential criteria of the BSP," he said. "But that's our ambition, to be a thrift bank."
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